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news.Lotus Pharmaceuticals has signed the technology transfer agreement for Laevo- Bambutero with Dongguan Kaifa Biomedicine.
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Lotus obtained the patent, along with exclusive production rights for Laevo-Bambutero in China, for a cash payment of RMB48 million and a 3% royalty on products sales. The company has already paid RMB20 million to Dongguan Kaifa.
The company intends to market Laevo-Bambutero as a better alternative to Bambutero for the treatment of asthma, since it uses an integrated method of composition and has fewer side effects. Lotus plans to launch the drug by 2012, pending on the approval from SFDA.
Zhongyi Liu, chairman, CEO and president of Lotus, said: “We believe that the commercialization of Laevo-Bambutero will help to further strengthen and diversify our product portfolio and make a meaningful contribution to our revenue in the years ahead.”